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Deal with Fox ends after 2005 season

6/1/2004 - New York Mets

NEW YORK -- The New York Mets might follow the lead of the
crosstown Yankees and start their own cable television network.

The Mets paid $54 million last week to buy out the remainder of
their contract with Madison Square Garden Network and Fox Sports
Net New York, exercising their right to terminate the deal after
the 2005 season.

Under a 1996 agreement, the Mets had until Monday to exercise
the buyout. Both networks are owned by Madison Square Garden LP,
which also owns the NBA's New York Knicks and the NHL's New York
Rangers
and is a subsidiary of Cablevision Systems Corp.

The Mets retained former deputy baseball commissioner Steve
Greenberg of Allen & Co. to represent them in TV discussions and
issued a statement saying they will "explore all options."

"We are excited about the opportunities that are available to
us," the Mets said.

The Mets' deal was to run through 2011, and the team is
receiving about $47 million from MSG this year, a lawyer familiar
with the contract said on the condition of anonymity.

Among the Mets' options are to start a new network with an
existing broadcaster, such as YES, Time Warner or Viacom; to start
a network on their own; or to strike a conventional rights sale
with MSG or another network.

The Mets were televised on SportsChannel from 1982-97, and the
network was renamed Fox Sports Net New York in 1998. Cablevision
moved some of the games to the MSG Network in 2002, after the
Yankees ended their contract with MSGN and started the YES network.

MSGN president Mike McCarthy hopes his network will sign a new
contract with the Mets.

"As is the case with all team rights negotiations, this is a
process which we hope and expect will result in a continuation of
the long-standing partnership between the New York Mets, MSG and
Fox Sports Net New York," he said.

Mets senior vice president David Howard did not return a
telephone call seeking comment.